MongoDB CEO Desai steps down to join Meta enterprise platform
MongoDB said Chirantan "CJ" Desai will join Meta Platforms as chief enterprise platform officer. MongoDB shares fell 14% in premarket trading, and Dev Ittycheria was named interim CEO.
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12:56:16 PM UTC
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* Database software firm MongoDB's shares tumble 16.7% to $342 premarket * Says CEO Chirantan "CJ" Desai has stepped down with immediate effect, names Dev Ittycheria as interim top boss * Desai, who served as CEO for less than a year, to pursue a senior role at Meta * Reaffirms Q3 and FY27 forecasts * 35 of 43 brokerages rate the stock "buy" or higher and eight "hold"; median PT is $470 * As of last close, stock down 2.2% YTD (Reporting by Anand Gopal in Bengaluru) ((AnandGopal.R@thomsonreuters.com)
Sept 28 — MongoDB said Chirantan "CJ" Desai has stepped down as president and chief executive officer to join Meta Platforms as chief enterprise platform officer. MongoDB shares fell 14% in premarket trading after the announcement. Desai had been CEO for less than a year, after taking the role in November from Dev Ittycheria. The company said its board has named Ittycheria interim president and CEO while it searches for a permanent chief executive and has retained an executive search firm to help with that process.